I have a 1275 and I think it's the S#@t - The little A model engine is ridiculously overbuilt so that you really can't wear them out ,unless you really concentrate on tearing it up and I prefer the engine note over the 1500 - I know I'll catch some flack here, so remember, opinions are like ears - everybody's got one or two....
Sprite Mark 2 and Midget Mark 1 ( 1962 )are when they went to front disks - Sprite Mark 4 and Midget Mark 3 ( 1966) came with the 1275 cc engine
I think the 1500 with the modified Maina gearbox was the first to have 1st gear synchro - Mines a 67 and it's no synchro in 1st. Again bear in mind that I'm in no way as knowledgeable as most of the Sprite guys on the forum, having owned only this Sprite ( Plenty of other Triumphs in the past, both cars and bikes (chuckle) but only this one Sprite.)
One thing's for sure: they're fairly inexpensive to purchase, Easy to repair, there are a bunch of them in boneyards for parts, the new parts won't beggar you and, if you bring one back to high standards and maintain it it'll be dependable ( At least as dependable as any LBC can be) tough, and an absolute joy to drive (Note: this last characteristic seems to be common to all Bristish Motors!)
Dollar for dollar you'll have a hard time beating the bang-for-the-buck factor you'll get with a 1275 cc Sprite.
I see that you're a discerning chap by the fact you own a Super 7 - I look forward to having you in the ranks of the Spridget forum - In other words, go git it boy!!